|Bid||23.75 x 0|
|Ask||23.78 x 0|
|Day's Range||23.73 - 23.82|
|52 Week Range||14.65 - 26.64|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.74 (3.08%)|
|1y Target Est||24.52|
A nationwide strike called by unions to protest against the government's planned liberalisation reforms has reduced French electricity generation at nuclear and coal-fired plants by over 4 gigawatts on ...
(Reuters) - Activist investor Elliott has disclosed a 460 million pound ($656 million) position in Britain's biggest hotel and coffee-shop operator Whitbread Plc (WTB.L). Elliott's stake of more than 6 ...
French workers plan to cut output at electricity generation sites on Thursday as part of a nationwide strike by unions against planned government liberalisation reforms, hardline union CGT said in a statement. Power sector workers will join rail and public sector workers who will take to the streets on Thursday to protest against President Emmanuel Macron's planned reform of the rail and French civil service. The CGT said the French power sector was under the threat of planned liberalisation reforms which could jeopardise French energy security.
The size of Uniper SE (XTRA:UN01), a €8.77B large-cap, often attracts investors seeking a reliable investment in the stock market. Market participants who are conscious of risk tend to searchRead More...
DUESSELDORF/FRANKFURT (Reuters) - Innogy (IGY.DE), Germany's largest listed energy group said it will continue with its advertising strategy despite plans by parent RWE (RWEG.DE) and peer E.ON (EONGn.DE) to break it up. Listed to much fanfare in 2016 in Germany's largest share sale since 2000, Innogy spent a mid-double digit million euro sum on introducing its brand, it said. "We are not conducting our business any different in light of the agreement with regard to the planned transaction between RWE and E.ON," Innogy said in emailed comments to Reuters when asked whether ad spending would fall.
Moody's Investors Service (Moody's) has today placed on review for downgrade the Baa2 senior unsecured ratings of E.ON SE (EON) and its guaranteed subsidiary, E.ON International Finance B.V.. The group's ...
Uniper last year sued RWE over the cancelled contract to buy power from the delayed hard coal-fired Datteln 4 plant, which has so far cost 1.2 billion euros ($1.5 billion) but has not produced any power. RWE agreed in 2005 and 2006 to buy 450 megawatts (MW) of power ahead of the 1,055 MW plant's planned opening in 2011, but delays have led Uniper to say this would not happen before the fourth quarter of 2018. RWE cancelled the contracts to avoid paying high power wholesale prices, which have dwindled since the contract was agreed.
ESSEN/DUESSELDORF (Reuters) - Germany's top utilities on Sunday announced plans to break up Innogy (IGY.DE), whose assets will be divided among parent RWE (RWED.DE) and rival E.ON (EONGN.DE) in the sector's biggest overhaul since a landmark move to exit nuclear power. The deal, which includes E.ON making a 5.2 billion euro (£4.62 billion) takeover offer to Innogy's minority shareholders, spells the end of the network, renewables and retail energy group, carved out from RWE two years ago, as a standalone unit. Chancellor Angela Merkel's decision to abandon nuclear power after Japan's Fukushima nuclear disaster in 2011 has forced the sector to radically restructure in order to survive and already caused major plant shutdowns and billions of euros of losses.
from E.ON (EONGn.DE) could face intense scrutiny in Russia, Uniper's Chief Executive Klaus Schaefer told journalists on Thursday. State-controlled Fortum has committed to seek regulatory approval for the deal from relevant jurisdictions, including Russia, by Oct. 31 at the latest, according to official offer documents. Securing approval in Russia, where Uniper operates several power plants, could be challenging, Schaefer said, pointing to a law that effectively prohibits foreign states or state-owned entities from gaining control over assets deemed as strategic.
on Thursday said it remained opposed to Fortum's (FORTUM.HE) plan to take a 47 percent stake in the German utility, adding it would be better off as a standalone company going forward. Finland's Fortum had launched a full takeover bid for Uniper as part of an agreement to buy a 46.65 percent stake owned by E.ON (EONGn.DE), but in total just 47.12 percent were tendered when the bid expired last month, shy of a controlling stake. "This is a big success for Uniper, and I'm very pleased with it," Uniper Chief Executive Klaus Schaefer told journalists at the group's annual press conference.
DUESSELDORF (Reuters) - Uniper sees only limited impact on its business from Britain's decision to exit the European Union, its chief executive said on Thursday after the publication of annual results. ...
German energy group Uniper cannot rule out further delays to the start of its new hard-coal power plant Datteln 4, it warned on Thursday, the latest setback in a project that has for years been a major headache for the group. The latest announcement comes only three months after Uniper said the plant's commercial operation would be delayed until the final quarter of this year, having previously planned to start it in the first half. "The currently planned commercial operation date is not before the fourth quarter 2018.
Finland's Fortum (FORTUM.HE) is expanding its electric vehicle charging business by acquiring Plugsurfing, a German charging and payment services provider present in 24 European countries, the firm said on Tuesday. The acquisition was the latest in a string of deals by cash-rich Fortum to create a European charging network for the rapidly growing electric vehicle (EV) market. Fortum's own Charge and Drive unit has a customer base of 75,000 cars in the Nordic region, its main market, and adding Plugsurfing's 50,000-strong user base is a significant step for the firm's European ambitions.
Finland's Fortum, which failed last month in its bid to win majority control of Germany's Uniper, is now considering other acquisitions, Chief Executive Pekka Lundmark said on Thursday. After selling its distribution networks in 2015, state-controlled Fortum was left with about 10 billion euros in cash, much of which the company has said it could use for acquisitions. Fortum received only a 47-percent stake in Uniper after bidding 8.05 billion euros ($9.80 billion) for a 100-percent stake.
Moody's Investors Service (Moody's) has today downgraded to Baa2 from Baa1 the senior unsecured and issuer ratings of Fortum Oyj (Fortum). The outlook on all ratings is negative. This concludes the review ...
with its 8.05 billion euro (7.19 billion pounds) takeover offer, after Uniper's management advised shareholders not to tender their shares. Fortum was offered just 0.47 percent of Uniper shares in the tender that expired last week, on top of a 46.65 percent stake that it negotiated separately with E.ON (EONGn.DE) which had spun off Uniper in 2016. "We are satisfied with the shareholding we have received, which will, when the transaction is finalised, make Fortum the largest shareholder in Uniper," Fortum Chief Executive Pekka Lundmark said in a statement.
E.ON (EONGn.DE) aims to offset a looming drop in profit from its German nuclear plants, which are being phased out by 2022, by increasing earnings from networks, renewables and retail, one of its board members said. Germany is getting out of nuclear power after Japan's Fukushima disaster and E.ON's legacy business contributed 357 million euros (312.57 million pounds), or about a sixth, to its operating profit in the first nine months. "We aim to compensate the expected profit deficit in the area of nuclear power by growing our other three divisions," Leonhard Birnbaum, chief operating officer for E.ON's networks and renewables, told Reuters.
"We don't need any deals with the activists," Pekka Lundmark told reporters at an energy conference in Berlin. Last month, activist investors Knight Vinke and Elliott Management both disclosed stakes in Uniper, but Knight Vinke said it would not tender its stake under Fortum's offer, which is below Uniper's current share price of 25.02 euros.
will likely seek talks with Fortum (FORTUM.HE) after the Finnish group's current takeover offer expires on Feb. 2, the chief executive of E.ON (EONGn.DE) said. E.ON earlier this month agreed to sell its remaining 46.65 percent stake in Uniper, which it retained following a spin off of the unit in 2016, for 22 euros (19.32 pounds) per share, lower than Uniper's current price of 24.72 euros. Hedge Fund firm Knight Vinke and activist investor Elliott Management both disclosed stakes in Uniper in December, with the former saying it would not tender its stake under Fortum's current offer.
Evonik (EVKn.DE) has become the latest German chemical maker seeking to convert excess renewable power into chemical building blocks that would normally require oil, harnessing erratic flows of wind and solar power in the country. The maker of clear acrylic sheet, rubber chemicals and feed additives, will work with engineering giant Siemens (SIEGn.DE) to electrolyse carbon dioxide and water into hydrogen and carbon monoxide, using electricity generated from green energy. Evonik will run a bioreactor to ferment those gases into industrial alcohols butanol and hexanol for possible use in plastics and dietary supplements.
by Tuesday on top of a 46.65 percent stake that it bought from E.ON (EONGn.DE), a regulatory filing showed. Fortum on Monday reported a larger combined stake of 47.04 percent, but now said it had to revise that figure due to a booking mistake at a shareholder custodian bank. Fortum in September clinched a deal to buy E.ON's stake, and then launched a full takeover bid worth 8.05 billion euros (7.15 billion pounds) to all Uniper shareholders due to German takeover rules.
The decision confirms a preliminary deal struck in September, when E.ON agreed it could tender the stake at a fixed price of 22 euros per share, more than twice Uniper's listing price, to Fortum by Jan. 11. The deal gives E.ON, which spun off Uniper and its power plants in 2016 to focus on more promising networks and renewables, 3.76 billion euros (3.32 billion pounds) in proceeds and hands Fortum a stake just shy of a controlling majority. The question is whether enough will tender to get Fortum over the 50 percent mark.
has criticised Finnish suitor Fortum (FORTUM.HE) for a lack of clarity about its intentions in a planned 8 billion euro (7.1 billion pounds) takeover of the company. Fortum has agreed to buy 47 percent of Uniper from Uniper's parent E.ON (EONGn.DE) and offered the same price to the other shareholders, but it faces pressure to raise its offer from hedge funds Elliott and Knight Vinke, who have built up stakes. Meanwhile, the Finnish utility is dragging its feet over job guarantee negotiations, Uniper Chief Executive Klaus Schaefer told the Rheinische Post newspaper in an interview published on Saturday.
MOSCOW (Reuters) - Alexei Miller, head of Russian gas giant Gazprom (GAZP.MM), said in a conference call on Tuesday that its European partners in the Nord Stream-2 pipeline project have fulfilled their ...